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Economics Past Questions and Answers

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Economics Questions

Question 1031:

Agriculture is central to Nigeria''s economic development because?

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A Nigeria''s comparative advantage lies mainly in agro-allied industries
B Agriculture is the largest employer of labour
C Agriculture accounts for an insignificant domestic product
D Nigeria earns limitless foreign exchange from agriculture

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Question 1032:

The flow labelled Y refers to

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A Real income
B Factor payment
C Factor input
D National income

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Question 1033:

The lower half of the diagram indicates

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A The flow of goods and services
B Payments for goods and services
C The flow of income
D Government transactions

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Question 1034:

The lower half of the diagram indicates

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A The flow of goods and services
B Payments for goods and services
C The flow of income
D Government transactions

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Question 1035:

The relationship between tax rate and income which is relevant to a progressive tax is shown by

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A Curve X
B CurveY
C Curve Z
D Curve X and Z

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